A solid referral network is invaluable to a CPA. Your clients, many of whom need complimentary professional services like legal, financial planning, and insurance, trust your recommendation and are extremely likely to become that professional’s new client. You know that you send your network of trusted resources credible warm leads, but are they returning the favor?
If you don’t know, or can’t instantly calculate the value of your referrals made out and returned back in, you may be allocating your referrals across your network in a way that fizzles, not sparks, your own new business development efforts. One way to be sure you’re getting a return on your referral investment is to track the value of the clients you refer out and connect your new business to your referral source network. We use this Business Development Template to track referrals out and back and make sure our clients’ networks are paying them back in a fair and equal manner.
Could you use a tool that lets you easily see how to value your referral source network and spot the strong partners who return you quality leads from their client base? Watch this video to see how we do it:
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